✅Last Friday, the overall trend of gold was weak, and the highs fell under pressure. We also successfully harvested two consecutive wins in the short position layout. However, the market fell sharply during the US trading session, and the short-term price fell below the moving average support. The one-hour chart showed a weak structure, which caused the market to have some shaken expectations for bulls. So, will gold really turn to a bearish trend next week?
✅Judging from the performance of the market, the recent trend of gold lacks obvious trend continuity, and it mostly shows surged and then pulled back or bottoming out and rising. The market on Friday once again showed the characteristics of repeated washes, which shows that the market is still in the range consolidation stage and has not yet formed a unilateral breakthrough trend.
✅Although the short-term performance is weak, the first-line support below 2608-2610 is still solid and has not been effectively broken. At the same time, the upper 2639-2640 area has fallen under pressure twice, forming a strong resistance. Therefore, gold as a whole is still in a state of shock range operation, and the establishment of a bearish trend cannot be confirmed.
🔴Upper resistance: Pay attention to the 2640-2645 area in the short term. If it breaks through, it will further open up the upward space.
🟢Lower support: focus on the 2610-2608 area support. If it falls below, you need to guard against the risk of further decline, and the target is the 2600 integer mark.
✅Trading strategy:
🔶GOLD BUY: 2610-2613
🔰TP1: 2625
🔰TP2: 2630
🔰TP3: 2640 OPEN~
🔶GOLD SELL: 2635-2638
🔰TP1: 2625
🔰TP2: 2620
🔰TP3: 2615 OPEN~
✅Gold is still in the stage of shock consolidation, the range operation pattern has not been broken, the short-term trend lacks continuity, and tends to adopt a high-sell-low-buy strategy. Investors need to pay close attention to the support of 2608-2610 and the resistance of 2640-2645, and wait for the range to break through before adjusting the strategy. Next week, focus on market news and technical break signals to grasp the changes in market direction.
✅Judging from the performance of the market, the recent trend of gold lacks obvious trend continuity, and it mostly shows surged and then pulled back or bottoming out and rising. The market on Friday once again showed the characteristics of repeated washes, which shows that the market is still in the range consolidation stage and has not yet formed a unilateral breakthrough trend.
✅Although the short-term performance is weak, the first-line support below 2608-2610 is still solid and has not been effectively broken. At the same time, the upper 2639-2640 area has fallen under pressure twice, forming a strong resistance. Therefore, gold as a whole is still in a state of shock range operation, and the establishment of a bearish trend cannot be confirmed.
🔴Upper resistance: Pay attention to the 2640-2645 area in the short term. If it breaks through, it will further open up the upward space.
🟢Lower support: focus on the 2610-2608 area support. If it falls below, you need to guard against the risk of further decline, and the target is the 2600 integer mark.
✅Trading strategy:
🔶GOLD BUY: 2610-2613
🔰TP1: 2625
🔰TP2: 2630
🔰TP3: 2640 OPEN~
🔶GOLD SELL: 2635-2638
🔰TP1: 2625
🔰TP2: 2620
🔰TP3: 2615 OPEN~
✅Gold is still in the stage of shock consolidation, the range operation pattern has not been broken, the short-term trend lacks continuity, and tends to adopt a high-sell-low-buy strategy. Investors need to pay close attention to the support of 2608-2610 and the resistance of 2640-2645, and wait for the range to break through before adjusting the strategy. Next week, focus on market news and technical break signals to grasp the changes in market direction.
Trade active
🔸Intraday trading strategy:✅GOLD SELL: 2627-2630
🔰TP1: 2615
🔰TP2: 2610
🔰TP3: 2600 OPEN~
✅GOLD BUY: 2600-2603
🔰TP1: 2610
🔰TP2: 2615
🔰TP3: 2620 OPEN~
🔥If you are experiencing losses or feel unconfident in your trading, please contact me in time. I will provide you with accurate trading strategies and real-time trading guidance at every critical moment to help you accurately grasp market trends, ensure that your trading is more stable and efficient, and steadily increase your profits.
Trade closed: target reached
🔥PERFECT!!! GOLD SELL DONE HIT TP2610💯🔖In the ever-changing gold trading market, many traders often feel overwhelmed and unsure of what to do next after the price breaks through key resistance and support levels. I am here to provide you with real-time guidance services to help you grasp every important market trend, whether it is to deal with trend breakthroughs or adjust trading strategies. I will accompany you at every critical moment, provide professional advice and support, and make your trading more secure🤝
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.